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Gear’s break-up and delisting lowballs minority investors and does nothing for the environment

Elevated profitability at its thermal coal unit could support development of new businesses that do not face ESG pressures

WHEN shares in Golden Energy and Resources (Gear) suddenly swooned last Tuesday (Nov 8), I grumbled to my newsroom colleagues that they had crashed one of the best-performing stocks I happen to own.

Earlier that day, The Business Times had published a news report and a commentary about coal companies possibly facing financing risks as banks become increasingly concerned about environmental, social and governance (ESG) issues.

The news report and commentary - which specifically referenced Gear - said that coal companies might have to restructure themselves and offload assets that could become stranded as funding dries up.

As an owner of shares in Gear, I did not care much for this narrative. In...

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